Further, the company has expanded the geographical reach of its microlending solutions to 26 states in the country.
Happy Loans uses technology and data-driven systems to provide targeted micro entrepreneurs credit from Rs 2000 to Rs 1,00,000 with an average ticket size of Rs. 30,000. The company's proposition is paperless and convenient access to credit for small and micro businesses which it achieves using complex technology at the backend.
Happy works closely with all of its partners for seamless lead generation, minimal documentation, and swift loan disbursal for its customers. Having achieved rapid scale in a year since its launch, the firm now aims to empower a much larger section of India's underserved businesses.
"We are a mass-market focused business bringing the advantages of technology to the unserved customers. Our microlending platform has already crossed the disbursement milestone of Rs. 20 crore. Today, as we engage with the MSME sector attempting to grow in a challenging market environment, we are extremely proud of the progress we have made so far in touching the lives of business owners across the country for the better. We will push further into the financial hinterlands of our country to spark their growth story, and aim to reach 50,000 loans soon," said Happy Loans Founder Manish Khera. (ANI)